Neiman Marcus is opening its first store in New York City, in Hudson Yards being developed on the west side of Manhattan.
“The store is not slated to open before 2018,” Karen Katz, the president and chief executive officer of the Neiman Marcus Group, told WWD.
“Demographics show that the growth and population on the west side and south west side of the city is growing much faster than other parts of the city. Our expectation is that it becomes a tourist destination. with a good mix of West Siders, people who also live downtown and international tourists.”
NMG also operates Bergdorf Goodman, but Katz said she believes the company is underserving New York City.
For more, see Thursday’s WWD.